Developing an anti-counterfeit system using blockchain technology
Anthony Anthony, Michael Christian Lee, Rafaelle Richel Pearl, Ivan Sebastian Edbert, Derwin Suhartono
Abstract
Blockchain is an up-and-coming technology designed to ease the process of verifying legitimate products without the need of a centralized system. An example of a well-known technology using Blockchain is Bitcoin and Ethereum cryptocurrency. Blockchain technology will ensure that data residing within each block cannot be tampered with by anyone other than the owner. This paper uses Blockchain technology to develop a system where customers can validate a product legitimacy without the need of a corresponding merchant. This system will be able to be used by manufacturers and companies to ensure that their products will be harder to counterfeit, therefore they will gain more trust from customers. The Ethereum blockchain is used to build the proposed model that is capable of tracing every item's creation and transactions, ensuring the credibility of an item's genuineness. Our simulation results in an effective model and a cost analysis that shows that the model uses an average gas amount of 715,046.3 gwei.